If you go to ASX link http://www.asx.com.au/asx/statistics/announcements.do?by=asxCode&asxCode=FMS&timeframe=Y&year=2010
Click on the following anns
17/03/2010 Pilbara Iron Ore Project - Prefeasibility On Track 24 PDF
“canegrass
Exploration target of 1.7to 3bt (that is billion tons) of 20-40%magnetite
Aand the Co. had 59m cash in the bank.
We were selling 288mt to Todd of the 1.04bt. (the rest gifted).
What was the Board going to do the above I/O.
Why not do what others have done and taken on a JV for a small % of the overall I/O.
50m plus cash in the bank. Well I didn’t spend it. I am aware I only got lots of ANNS.
We know that some of the PIOP tenements are open for more I/O and as previously stated FMS hasn’t measured below 55%Fe.
Is FMS just an explore with no return to SH????
I can’t believe it.
Shandongs signing up with IRD and Todd. Is part of there deal “We buy your I/O you buy Shandongs products to build rail, bridges etc. Just another clever move and market for Shandong.
FMS Price at posting:
1.2¢ Sentiment: Buy Disclosure: Held
